(c) Deferred Taxes 2. Blue Ltd. with an authorized capital of Rs. 1,500,000 divided into 25,000 Equity Shares. The company issued 12,000 shares and received applications for 15,000 shares. All applicants paid their money due. No allotment was made to applications for 3,000 shares and their application money was refunded. All the allottes paid the money due. Required: Pass the necessary journal entries and show how the items will appear in the company's balance sheet if shares are issued (a) At Par (b) At Discount 5% (c) At premium 10% 20